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Talking to My Daughter About the Economy: or, How Capitalism Works--and How It Fails, by Yanis Varoufakis
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Review
Best Book of 2018 (so far), Business & Leadership"Charming and utterly fascinating . . . It's a sharp analysis mixed with philosophical rumination told in a breezy mix of family anecdotes, Greek myth, world history and a surprisingly deep dive into the hidden meanings embedded in Star Trek and The Matrix . . . It's a book for everyone. Varoufakis dispenses with technical jargon, and when he does use it, he goes to great lengths to clearly define what he's talking about." ―Mark Haskell Smith, The Los Angeles Times"Varoufakis has used his considerable talents . . . to demystify complex financial concepts designed to elude us . . . 'Ensuring that everyone is allowed to talk authoritatively about the economy is a prerequisite for a good society and a precondition for an authentic democracy' [he writes]. If this is his goal, then Varoufakis has more than achieved it . . . He clearly and patiently helps readers come to an understanding of just how much power global corporate finance―and the supranational institutions that serve it―wields over our lives . . . If anyone can figure out a way to put a chicken in every pot and a bottle of bubbly on every table, it's Yanis Varoufakis." ―Atossa Araxia Abrahamian, The Nation"Varoufakis [promises] to explain economics in a language that everyone can understand, in place of the jargon- infested pseudo-scientific language of mainstream economics....Varoufakis comes up with a vivid comparison between money supply and the market in cigarettes in a German prisoner-of-war camp to explain inflation, deflation and interest rates, in terms any teenager – or adult – will understand . . . Varoufakis does equip his readers with the beginnings of a new language, and punctures myth after myth" ― Anna Minton, The Guardian
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About the Author
Yanis Varoufakis is a former finance minister of Greece and a cofounder of an international grassroots movement, DiEM25, that is campaigning for the revival of democracy in Europe. He is the author of the international bestseller Adults in the Room, And the Weak Suffer What They Must?, and The Global Minotaur. After teaching for many years in the United States, Great Britain, and Australia, he is currently a professor of economics at the University of Athens.
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Product details
Hardcover: 224 pages
Publisher: Farrar, Straus and Giroux (May 8, 2018)
Language: English
ISBN-10: 0374272360
ISBN-13: 978-0374272364
Product Dimensions:
5.9 x 0.8 x 7.8 inches
Shipping Weight: 10.1 ounces (View shipping rates and policies)
Average Customer Review:
4.5 out of 5 stars
44 customer reviews
Amazon Best Sellers Rank:
#21,865 in Books (See Top 100 in Books)
A must read to understand the economy, in simple terms. I have taken economics in college, and of course, we have all heard bout the 'invisible hand' of the market, and the law of supply and demand, etc. etc., but for most of us, this does not really explain (or make sense, frankly) what is happening. Prof. Varoufakis explains the reality so we can understand the problem, and possibly, know the way to solve the problems that beset us. Ignorance is not bliss; we need real facts and knowledge, and we need to know who the enemy of financial freedom is and how we can get out from under. When we read economics as taught to most of us, we read about how if supply exceeds demand, then the pendulum swings so as to correct this, but what does that mean to real people depending on wages to live and exist in our society? We must understand that ours is a system that is set up to enrich the rich, and extract from the rest of us. Until we understand this and then get it changed we continue to be slaves to our system and those who make the rules.
Despite repeated attempts at self-education, I have remained a financial illiterate my whole adult life. Read any standard economics text and it will discuss supply curves and demand curves as if they were (usually linear) mathematical functions. Fine. Linear functions are easy to understand. The problem is that even these simple ideas don't give a true explanation of the economic world we lived in. Between May 19 and May 20, the demand for automotive fuels didn't really change, but the price will reliably take a jump. The slick, nearly mathematical texts just don't line up to reality---and you can take examples from almost anywhere. This is a clear book that gives a coherent introduction to the qualitative aspects of economics, something that any person could understand---even a financial illiterate. Is everything he says correct? I don't know. That's why I'm illiterate. Certainly it is not complete, but the ideas are coherent and give a reasonable foundation from which to begin to form a better understanding. This guy isn't the pompous idiot that most economists seem to be.
Varoufakis breathes life into the phrase, "if you can't explain something to a child, then you don't really understand it yourself" by turning it from a simple adage into practical application in this unambiguous book about capitalism and economics. His analogies and effort to make the reader understand the content instead of trying to patronizingly exert his knowledge over the reader makes this an engaging and very educational read.
Where was this guy when I was struggling to put my finger on what's wrong with the way economics is taught in U.S. colleges? The author provides fantastic historical perspective and excellent explanations of seemingly complex concepts in everyday language.
This is a great book that outlines how the economy works in pretty clear and simple terms. It was an enjoyable read and was interesting. Obviously, by the title, it was written with a young audience in mind, but anyone who doesn't have a lot knowledge about economics, but is interested in learning about it, would enjoy this book.
Brilliant book. Well written and fun to read which is a veritable accomplishment for a book on economics. Historical, mythological and literary references illuminate beautifully economic principles.
For me this book succeed in creating an introduction to the economics and how it is intertwined with our most pressing questions of the day.Even though I am teaching in an Asian country its questions and answers are equally relevant.
Best book to understand macroeconomics and the political economy of capitalism.
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